Nampak has announced that it has acquired the other 50% share in its glass packaging business from Wiegand-Glas for R938 million.Andrew Marshall, CEO of Nampak said “this acquisition is part of our strategy of investing in our core businesses where we believe we have competitive advantages. As a result, Nampak is looking to grow its glass operations in South Africa and the rest of Africa. This will be more easily achieved by us owning 100% of the glass business.
Although they will no longer be shareholders in the business we are pleased that Wiegand-Glas have agreed to remain as our technical service provider”.
The transaction is subject to the approval of the Competition Authorities.
